First Trust Advisors LP boosted its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 59.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,104,457 shares of the insurance provider’s stock after acquiring an additional 784,584 shares during the quarter. First Trust Advisors LP’s holdings in Cincinnati Financial were worth $331,136,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new position in shares of Cincinnati Financial during the 4th quarter valued at approximately $25,000. Motiv8 Investments LLC purchased a new position in Cincinnati Financial during the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Cincinnati Financial during the first quarter worth $34,000. DV Equities LLC bought a new position in Cincinnati Financial during the fourth quarter valued at $36,000. Finally, Legacy Wealth Managment LLC ID increased its position in Cincinnati Financial by 78.8% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 108 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on CINF. Roth Capital raised their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Piper Sandler raised their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Finally, Bank of America decreased their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.40.
Cincinnati Financial Trading Up 0.1%
Shares of CINF opened at $180.51 on Wednesday. Cincinnati Financial Corporation has a 1-year low of $143.87 and a 1-year high of $194.81. The company has a 50-day moving average of $172.64 and a 200 day moving average of $166.21. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 3.69 and a beta of 0.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.24) EPS. On average, research analysts expect that Cincinnati Financial Corporation will post 8.76 EPS for the current year.
Cincinnati Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were issued a $0.94 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.1%. Cincinnati Financial’s payout ratio is presently 21.50%.
Cincinnati Financial Profile
Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.
The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.
Featured Stories
- Five stocks we like better than Cincinnati Financial
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding CINF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cincinnati Financial Corporation (NASDAQ:CINF – Free Report).
Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with MarketBeat.com's FREE daily email newsletter.
